i want to go for an iva process and cannot afford to pay my dept and my expenses are more than my income. There are few companies in the market like Payplan, step change and many more. But bit confused which company will be good for me. As after signing any contract with any company i don't want to regret on my decision. Please advice. I had come a name of Melanie Giles in this forum. I want to know which company she is in for as seems very efficient in her work.
PJG - however they transferred the majority of their clients to Creditfix last year.
I was one of those and my suggestion would be look at someone else for the foreseeable future.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
You need to ring round a few and actually speak to them to see who you feel comfortable with. The large companies like Payplan suit some, but do have a harder way of working. Personally I would go for one of the smaller companies who see you as an individual and one where you can actually access your own IP if needed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Like foggy says above, each company works in a slightly different way and some will suit you more than others.
I have recently completed an IVA with Payplan and I liked the relative anonominity of being dealt with by a large company. Over the 5 years since the start of the arrangement I doubt I had contact with them more than 10 times. However, this worked because my circumstances remained stable - had I encountered changes to my earnings or personal situation I am sure a smaller more "caring" company would have been more suitable.
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur."
There are firms that are funded by the banks and also independent firms. Contact both types and go with whoever makes you feel most comfortable but more importantly who does what is best for you. Five years is a long time and make sure you have access to your IP if need be as some firms will not allow this.
Finally there is no need to pay up front fees and there should be no cost for advice.
Hi and welcome it really is best to shop around a few Take some case specific advice that way you'll know all your options. Ring a minimum of 2 if not 3 I would suggest. Maybe contact Michael Peoples too as I know McD who he works for has an excellent reputation.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Andy gives good advice but I would balance that with the advice given by ilikewatch.
A number of us were with smaller firms originally but unfortunately they have not survived the market and that is a risk you need to consider.
As Andy says - 5 years is a long time (and in my case a 10th of my life by the time this is resolved).
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
